Arteris (NASDAQ:AIP) CFO Sells $7,382,569.00 in Stock

Arteris, Inc. (NASDAQ:AIP) CFO Nicholas Hawkins sold 221,035 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $33.40, for a total value of $7,382,569.00. Following the transaction, the chief financial officer owned 110,600 shares in the company, valued at approximately $3,694,040. This trade represents a 66.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Arteris Price Performance

Shares of AIP opened at $33.71 on Monday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17. Arteris, Inc. has a 1 year low of $6.88 and a 1 year high of $38.47. The stock has a market cap of $1.56 billion, a P/E ratio of -42.67 and a beta of 1.93. The stock’s 50-day moving average price is $21.50 and its two-hundred day moving average price is $17.61.

Arteris (NASDAQ:AIP) last issued its earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.05. The company had revenue of $22.94 million for the quarter, compared to the consensus estimate of $21.03 million. On average, equities analysts predict that Arteris, Inc. will post -0.68 earnings per share for the current year.

Hedge Funds Weigh In On Arteris

Several institutional investors have recently modified their holdings of the business. Intech Investment Management LLC lifted its holdings in shares of Arteris by 9.3% during the 4th quarter. Intech Investment Management LLC now owns 13,540 shares of the company’s stock valued at $210,000 after purchasing an additional 1,148 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Arteris by 7.7% during the 4th quarter. Deutsche Bank AG now owns 21,159 shares of the company’s stock valued at $328,000 after purchasing an additional 1,504 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Arteris by 75.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,053 shares of the company’s stock valued at $61,000 after purchasing an additional 2,595 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Arteris by 12.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 23,913 shares of the company’s stock valued at $242,000 after purchasing an additional 2,613 shares in the last quarter. Finally, Strs Ohio lifted its holdings in shares of Arteris by 16.5% during the 3rd quarter. Strs Ohio now owns 20,500 shares of the company’s stock valued at $207,000 after purchasing an additional 2,900 shares in the last quarter. Institutional investors own 64.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AIP shares. Wall Street Zen cut Arteris from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Jefferies Financial Group raised their target price on Arteris from $16.00 to $35.00 and gave the stock a “hold” rating in a report on Wednesday. Northland Securities set a $38.00 price objective on Arteris in a report on Wednesday. TD Cowen lifted their price objective on Arteris from $22.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Rosenblatt Securities lifted their price objective on Arteris from $20.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $37.75.

About Arteris

Arteris, Inc is a fabless semiconductor intellectual property (IP) company specializing in on-chip interconnect solutions and system IP for advanced integrated circuits. The company’s core products include its FlexNoC network-on-chip (NoC) fabrics, Ncore cache coherent interconnect IP, and CodaCache memory subsystem IP. These technologies enable semiconductor and systems companies to design scalable, energy-efficient chips for applications ranging from automotive and artificial intelligence (AI) to 5G communications and high-performance computing.

Founded in 2003 and headquartered in Santa Clara, California, Arteris serves a global customer base across North America, Europe, and Asia.